Motilal Oswal Alternates raises $800 million

MUMBAI: Motilal Oswal Alternates has closed an $800 million private equity (PE) fund, surpassing its initial target of $750 million, helped by strong backing from global and local investors, who chipped in to partake in India's growth story.

The fund size can go up to $950 million, making it one of the largest funds raised by a local PE investment firm. This is first close for the fund and the final one is expected by Oct end.Through this fund, the company will cut cheques in range of $40-$80 million for mid-sized firms; the bulk of the capital will be deployed in sectors with high market opportunity - consumer, financial services, manufacturing and healthcare, sectors that have been seeing high investor appetite due to the sheer market opportunity. The fund has made two investments, amounting to $125 million.